The Pensions Regulator (TPR) has published a consultation on a new enforcement strategy that reflects its evolution into a more proactive, prudential regulator.
In a new blog, TPR’s Executive Director of Regulatory Compliance, Gaucho Rasmussen, writes how the strategy “sets out our targeted, outcomes-driven approach to using our powers – focused on behaviours and risks that matter most to savers. For trustees and industry bodies, it offers greater clarity and confidence.”
At the heart of the strategy is a clear enforcement framework which aims to achieve one or more of four key outcomes: prevention, reparation, accountability, and saver confidence.
These outcomes will guide TPR’s decisions and ensure that its actions are proportionate, purposeful, and aligned with our mission to ensure savers receive outcomes that matter.
Gaucho writes: “We want to be in a stronger position to respond to emerging risks, act decisively when standards fall short, hold individuals and organisations to account, and deliver positive outcomes for savers. This is not just a refinement in how we do things. It is an evolution.”
He concludes: “So, whether you’re a trustee, employer, adviser or simply someone who cares about the future of pensions, now is the time to engage, challenge, and shape the way forward. Read the strategy, share your views, and be part of the change.”
